Early Life
Mohamed Alabbar was born on November 8, 1956, in Dubai, United Arab Emirates. He is the eldest of twelve children. His father was a captain of a traditional trading vessel known as a dhow. He received a government scholarship in the 1970s to study finance and business administration at Seattle University. He graduated in 1981 with a Bachelor of Business Administration.
Rise to Success
After graduating from Seattle University, Alabbar began his career at the Central Bank of the United Arab Emirates. In 1992, he returned to Dubai to serve as the founding director general of the Department of Economic Development. During this time, he worked closely with Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, serving as one of his chief economic advisors. In 1997, he founded Emaar Properties, which has become one of the largest real estate development companies in the world. The company's projects include the Burj Khalifa, the world's tallest building, and The Dubai Mall, one of the largest shopping malls globally.
Key Business Strategies
Alabbar's business strategy has been characterized by his ability to identify opportunities and his close relationship with the Dubai government. Emaar Properties became a public company in 2000, opening up shares to foreign nationals. He focused on building communities rather than just properties and incorporated retail, hospitality, and lifestyle brands into his real estate ventures. Beyond real estate, he has diversified into e-commerce with Noon.com and established other ventures such as Eagle Hills and Americana Restaurants.
Philanthropy
While specific figures for Alabbar's philanthropy are not readily available, his initiatives have been largely focused on supporting education and community development. He has also served on the board of trustees of the American University of Sharjah and the FII Institute in KSA.